Peabody reported solid earnings last week, and it embraced the Trump Trade on Thursday, surging +9.6% – the phrase “Drill Baby Drill” comes to mind even though it referenced oil. Coal is set to be one of the biggest winners from Trump’s victory, but we didn’t feel the love on the ASX with Whitehaven (WHC) +0.3% and New Hope (NHC) -1%, a net drag on the local market. For the local coal miners to mirror this sort of move, we probably need a change of government in Australia next year.
- We can see WHC and NHC playing catch-up over the coming weeks – MM is long BTU in our International Companies Portfolio.
MM is long and bullish BTU
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